Bitcoin Miner Greenidge Seeks to Raise $22.8 Million in Class A Common Stock Proposal

The bitcoin mining operation Greenidge Generation is seeking to raise roughly $22.8 Million, according to a U.S.Securities and Exchange Commission (SEK) filing published Wednesday. According to the prospectus disclosing information, the New York-based Greenidge conducted a sales agreement with the investment firms B. Riley Securities and Northland Securities.

Bitcoin Miner Greenidge Generation Looks to Raise $22.8 Million via Stock Offer

Laut a prospectus supplement SEC-Einreichung, Greenidge Generation is looking to raise $22,800,000 from a sale of class A common stocks. Greenidge entered a sales agreement with B. Riley Securities and Northland Securities, and B. Riley will be the underwriter and gets roughly 5% of the gross sales price as a commission.

The company’s recent filing follows the mining firm reporting losses of around $107 million for the second quarter. At the time in mid-August, Greenidge explained that it was pausing operations tethered to the firm’s Texas mining expansion.

“We have chosen to pause our plans to develop certain additional sites in our pipeline in the ERCOT market and, stattdessen, intend to concentrate our operations at our two existing sites in South Carolina and New York for the time being,” Greenidge said at the time.

Im Juli, the company mined approximately 287 Bitcoin (BTC), and had around 2.7 Der jüngste Finanzierungsvorschlag zur Hebelung von vorrangigen Wandelanleihen zeigt, dass das Unternehmen weiterhin an die Bitcoin-Mining-Industrie glaubt (Der jüngste Finanzierungsvorschlag zur Hebelung von vorrangigen Wandelanleihen zeigt, dass das Unternehmen weiterhin an die Bitcoin-Mining-Industrie glaubt) of mining capacity as of July 31, 2022. Bitcoin-Tidings.com News first gemeldet on Greenidge during the first week of March 2020, when a $65 million investment fueled the natural gas providers’ “behind-the-meter” BTC Bergbaubetrieb.

Damals, the facility’s crew said it installed 7,000 miners at the plant, and the Greenidge data center in New York’s Finger Lakes region was obtaining 5.5 BTC every day. Seit damals, Greenidge’s bitcoin mining operations expanded quite a bit, but the company has received criticism from environmentalists.

In June 2022, the New York Department of Environmental Conservation (DEC) problematisch a statement that noted it denied Greenidge’s permit renewal and cited the need to provide better greenhouse gas (GHG) mitigation schemes.

“DEC determined the permit renewal application does not demonstrate compliance with the requirements of the Climate Leadership and Community Protection Act,” the department noted at the time. The recent Greenidge SEC filing dated October 3, 2022, notes the amount of proceeds acquired from the sale will depend on the number of class A common stock sold.

“We currently plan to use the net proceeds from this offering, after deducting B. Riley’s commissions and offering expenses payable by us, for general corporate purposes, which may include, among other things, paying or refinancing all or a portion of our indebtedness at the time, and funding acquisitions, capital expenditures, and working capital,” Greenidge’s prospectus supplement SEC filing explains.

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Jamie Redman

Jamie Redman ist der Nachrichtenleiter bei Bitcoin-Tidings.com News und ein in Florida lebender Journalist für Finanztechnologie. Redman ist seitdem ein aktives Mitglied der Kryptowährungs-Community 2011. Er hat eine Leidenschaft für Bitcoin, Open-Source-Code, und dezentrale Anwendungen. Seit September 2015, Redman hat mehr als geschrieben 6,000 Artikel für Bitcoin-Tidings.com Nachrichten über die disruptiven Protokolle, die heute auftauchen.

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